Question
On March 1, beginning inventory included 50 units of inventory originally purchased for $5 per unit. On March 12, 15 units were purchased for $8
On March 1, beginning inventory included 50 units of inventory originally purchased for $5 per unit.
On March 12, 15 units were purchased for $8 per unit.
On March 26, 20 units were purchased for $10 per unit.
At the end of March, 10 units of inventory were sold.
Determine the cost of goods sold (COGS) using the LIFO cost flow assumption.
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Finance And Accounting For Nonfinancial Managers
Authors: Steven A. Finkler
5th Edition
9780808046905
